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INTL 4400 (5)
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Department
International
Course
INTL 4400
Professor
David Weitzner
Semester
Fall

Description
Environmental Scanning – monitoring – competitive intelligence SWOT General Environment: Psych/Soci/Politcal/Global/Technological/Economic Porter’s Threat of new entrants: differentiation, scale, cost advantages, switching costs, capital outlays, distribution Buyers: more buyers, product is unimportants, lots of suppliers, makes a large part of the business, threat of backward integration Suppliers: forward integration Substitutes Rivalry: number, industry growth, capacity, differentiation, exit barriers Strategic groups: Mobility barriers: factors that deter movement from one strategic position to another Is competitive margin tedious? Future direction of firm strategies Implications of industry trends. VCA – internal and external perspective Firm into various activities that help us understand the ways inputs are deployed and costs are incurred relationships Value: premium costumers iwllinh to pay Five primary activities: outbound (, operations, inbound log, marketing and sales, and service Support activities: general administration, HRM, technology development, procurement RBV: looks at the firm as a bundle of resources. Competitive advantage, based on tangible/intangible resources and core competencies Valuable? Will customers pay a premium Imitable? Path dependay, causual ambiguity, physical uniqueness, social complexity Substitutable? Rare? Balanced Scorecard: instead of using financial ratios that only look at expenses, balanced scorecard looks at different measures that assess overall business. Customer perspective: how do customers see us? Time, quality, service, cost Internal perspective: where do we excel? Efficiency Innovation: can we continue to improve and create value: sales, maturity time, next generation time Shareholder: how do we see our shareholders? Any financial measures Chapter 4  Knowledge economy: effective management of intellectual assets and knowledge workers to create value, instead of financial resources and capital assets  Human capital, social capital knowledge  Human capital o Attracting  Hire for attitude, train for skill  Motor skills can be learned on the job – hire the right attitude  Hrie base on attitude, values, interpersonal skills, rtc o Developing  Continue to develop  Encourage involvement  Keep them engaged, trained o Retaining  Pied piper effect  Hire social networks  Develop strong culture, motivation, intrinsic and extrinsic motivation, don’t focus heavily on financial rewards, etc  Mission and values  Strong loyalty, etc.  Social capital o Organizational culture: o Creating loyalty o Leveraging l Chapter 5  Cost leadership o Finding efficiencies in the value chain o Reducing costs o Economies of scale o Cost minimization, etc o Pitfalls  Focus too much on specific segments of the value chain  Any rise in input costs can be detrimental to strategy  Too imitable  Lack of differentiation  When customers become aware of actual costs, advantages are decreased o Need to maintain parity on differentiation in respects to competitors o Benefits  Absorb buyer pressures  More leeway to cope with price increases from suppliers  Protects from intense rivalry  Economies of scale, etc  Lower prices puts at advantage in terms of substitutes  Differentiation o Something consumers are willing to pay a premium for (brand, service, warranty, etc) o Pitfalls  Too much differentiation, too much of a price premium, no focus on efficiencies within value chain o Benefits  Buyers need the product  Suppliers benefit from supplying (prestige)  Focus o Focusing on a niche geographic market, need, etc o Achieves competitive advantage by tailoring strategies to the niche o Cost or differentiation focus o Erosion of cost advantages, risk of competition  Combination of both o Unique value in an efficient manner o Don’t want to be stuck in the middle, hard to do o 3 ways of dong this  Automated and flexible manufacturing strategies  Mass customization  taking advantage of all profit pools in the industry  Enhancing value chain via IT  Evauating strategies o Consistency: alignment with goals o Consonance: fit with external environment o Advantage o Feasibility no Industry Wide Segment Uniqueness perceived Low cost position by customer Chapter 6 Diversification initiatives must create value, and synergy to be undergon. Related  Sharing intangible, tangible resources  Create economies of scope  Core competencies  Sharing activities o Cost savings o Enhanced revenue  Can have negative effects on a given business’ differentiation  Market power  Vertical integration o Benefits: control and protection of assets, access to raw materials, new business opportunities, simplified procurement o Risks: capacity risks, loss of flexibility, administrative costs o Ask yourself  Are suppliers not meeting needs?  Is there potential revenue?  Core competency at play?  Stable demand for product? Unrelated  Value created via head office  More service related  Parenting and restructuring
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